TBA, 2025

Trading of Bullish shares could begin on August 12 at the earliest, if the initial public offering process is launched.

A portion of the proceeds from the initial public offering will be converted to US dollar-denominated stablecoins, as mentioned in the filing.

Bullish, a media company and cryptocurrency trading platform, has attracted interest from major institutional investors. The company plans to launch an initial public offering in the United States to raise between $568 million and $629 million.

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The company's intentions are clarified in a revised F-1 document submitted by Bullish to the US Securities and Exchange Commission (SEC), detailing the issuance of 20.3 million shares, with a potential valuation of up to $4.2 billion, just weeks after its original IPO request. Trading of Bullish shares could begin on August 12, pending approval of the IPO.

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The statement indicated that some investment accounts overseen by BlackRock and ARK Investment Management have expressed their desire to purchase shares valued up to $200 million at the initial public offering price.

Moreover, a portion of the proceeds from the initial public offering will be converted to US dollar-denominated stablecoins, as mentioned in the filing. Bullish operates a digital asset platform available in over 50 countries (excluding the United States). It is designed for institutional clients.

looking towards public listings

Several cryptocurrency-focused companies are looking towards public listings, including Bullish. Although the company has not disclosed its number of shares or target price, BitGo, a digital asset custody company, filed for an IPO in the United States in July.

Reports indicate that the Kraken platform, a cryptocurrency trading platform, plans to raise $500 million in an initial public offering. This could increase the company's valuation from $11 billion to $15 billion. According to sources, OKX, another cryptocurrency trading platform, is preparing to list its shares for an initial public offering in the United States after recently resuming its services there.

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